Rising Transboundary And Zoonotic Disease Cases Are Fueling The Growth Of The Veterinary Infectious Disease Diagnostics Market As Per The Business Research Company's Veterinary Infectious Disease Diagnostics Global Market Report 2022
TBRC’s market research report covers veterinary infectious disease diagnostics market size, veterinary infectious disease diagnostics market forecasts, major veterinary infectious disease diagnostics companies and their market share, key strategies to undertake, and more.
LONDON, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the veterinary infectious disease diagnostics market, the increasing incidence of transboundary and zoonotic diseases such as rabies is expected to propel the growth of the veterinary infectious disease diagnostics market going forward. Zoonoses are diseases and infections that are transferred spontaneously between humans and vertebrate animals. Veterinary infectious disease diagnostics are used to detect rabies in pets and animals. These devices are used to prevent animals from causing death.
For instance, in 2021, according to the World Health Organization (WHO), a Swiss-based government agency, rabies disease was found in over 150 nations and territories. Dogs are the most common source of human rabies deaths, accounting for up to 99% of all rabies transmissions. Children under the age of 15 make up 40% of those bitten by suspected rabid animals. Infection kills tens of thousands of people every year, mostly in Asia and Africa. Therefore, the increasing incidence of transboundary and zoonotic diseases is driving the growth of the veterinary infectious disease diagnostics market.
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The global veterinary infectious disease diagnostics market share is expected to grow from $1.44 billion in 2021 to $1.63 billion in 2022 at a compound annual growth rate (CAGR) of 13%. The global veterinary infectious disease diagnostics industry growth is expected to reach $2.36 billion in 2026 at a CAGR of 9.7%.
Technological advancements have emerged as the key trend gaining popularity in the veterinary infectious disease diagnostics market. Major companies operating in the veterinary infectious disease diagnostics market are introducing new technological innovations to sustain their position in the market. For instance, in 2020, LexaGene, a US-based company operating in veterinary infectious disease diagnostics, released MiQLab, a gold standard diagnostic equipment that uses a unique RT-qPCR-based technology to evaluate each sample's contents for up to 27 distinct pathogens in under an hour. MiQLab is unique in that it is open-source, allowing users to customize existing tests and build new ones with ease. If a new test is necessary due to a mutation, the open-access functionality allows new tests to be developed quickly on LexaGene's MiQLab system.
Major players in the veterinary infectious disease diagnostics market are Zoetis Inc., IDEXX Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., IDvet, NEOGEN Corporation, INDICAL BIOSCIENCE GmbH, Randox Laboratories Ltd, Creative Diagnostics, Heska Corporation, Chembio Diagnostics, URIT Medical Electronic Co. Ltd, NTBIO Diagnostics Inc., Bio-X Diagnostics, and Agrolabo Spa.
The global veterinary infectious disease diagnostics market analysis is segmented by infection type into viral infections, bacterial infections, parasitic infections, others; by animal type into companion animal, food-producing animals; by technology into immunodiagnostics, molecular diagnostic, others; by end user into reference laboratories, veterinary hospitals and clinics, point of care, research institutes and universities, others.
North America was the largest region in the veterinary disease diagnostics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global veterinary infectious disease diagnostics market during the forecast period. The regions covered in the global veterinary infectious disease diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Veterinary Infectious Disease Diagnostics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide veterinary infectious disease diagnostics market overviews, veterinary infectious disease diagnostics market analyze and forecast market size and growth for the whole market, veterinary infectious disease diagnostics market segments and geographies, veterinary infectious disease diagnostics market trends, veterinary infectious disease diagnostics market drivers, veterinary infectious disease diagnostics market restraints, veterinary infectious disease diagnostics market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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